Tax proposals dropped from Finance Bill 2017

Several tax proposals dropped as 2017 General Election approaches With the 2017 ‘snap’ General Election almost upon us, several tax proposals have been dropped from the Finance Bill 2017 before parliament is dissolved on 3 May. The dropped proposals will be ‘held over’ until after the election when they become a matter for the next government. Key proposals which have … Read More

Making Tax Digital – what it means for businesses and individuals

Following recent consultation, HMRC is pressing ahead with its Making Tax Digital (‘MTD’) reforms, albeit with a few key elements still to be decided. The new system is designed to convert the vast majority of taxpayers into the online tax world, enabling income and expenses to be reported digitally to HMRC every quarter via new software. MTD is expected to … Read More

Making tax digital – the digital revolution

The Government is committed to reforming the current tax system to bring it into the digital age and has begun various consultations with results expected at the end of this year. Changes are proposed to come into force in 2018, requiring businesses and landlords to record their income and expenses digitally, plus updating HMRC at least quarterly. Digital accounts for … Read More